On November 25th, Zhu Ming Bean Products Corp. (003030.SZ) announced that it plans to purchase 51% equity of Nanjing Guoguo Beans Food Co., Ltd., held by Nanjing Guoguo Food Co., Ltd., Cai Liqun, and Jiang Yuejun, in cash, with an initial trading price of RMB 112.2 million, to be paid in three installments. The actual payment amount will be adjusted based on the operational performance commitments of the target company in 2024, 2025, and 2026, not exceeding the initial trading price. After this transaction is completed, Nanjing Guoguo Bean Products Co., Ltd. will become a wholly-owned subsidiary of the company and be included in the company's consolidated financial statements.
Guoguo Bean Products operates well and its main business and customer nature are similar to the company's. By leveraging both parties' channel resources and product advantages to enhance synergies, it will help the company further increase its market share in the Yangtze River Delta, continuously strengthen its market competitiveness and comprehensive strength, consolidate its leading position in the industry, and benefit the company and all shareholders.
